No Revenue And Persistent Net LossesThe company has reported no revenue and large net losses historically, indicating limited current earnings power. Without a visible path to commercial production or revenue generation, shareholder value depends on successful exploration outcomes or sustained external funding.
Persistent Negative Operating And Free Cash FlowMaterial and recurring cash burn strains liquidity and forces reliance on capital markets or partners to fund ongoing exploration and development. Over months, this raises dilution risk and limits ability to independently advance projects to value-creating milestones.
Negative Returns On Equity And Earnings VisibilityNegative ROE and inconsistent historical revenue highlight that the company’s capital base is not producing returns. This structural lack of earnings visibility elevates execution and valuation risk for investors until commercial resources or steady revenue emerge.